The top headlines capturing the attention of global financial media overnight and this morning are as follows:
1. Zelenskyy Anticipates Sunday Meeting with Trump; Russian Statements Cast Doubt on Agreement Prospects 2. Rent Declines in Several Major U.S. Cities; Experts Call it One of the "Most Tenant-Friendly Periods in a Decade" 3. Oracle Set for Worst Quarterly Performance Since 2001 4. U.S. Retail Giant Target Reportedly Under Pressure from Activist Investor 5. Spot Gold and Silver Prices Reach New All-Time Highs, Influenced by Geopolitics and a Weaker Dollar 6. 2025 Global M&A Transaction Volume Exceeds $4 Trillion, Up Nearly 50% Year-on-Year
Ukrainian President Volodymyr Zelenskyy stated that he anticipates meeting with U.S. President Donald Trump on Sunday in Florida to push for an agreement to end the conflict. However, recent statements from Moscow have raised questions about how close a final ceasefire agreement might be. Speaking to reporters on Friday, Zelenskyy said he would discuss sensitive issues with Trump, including the future of the Donbas region in eastern Ukraine and the Zaporizhzhia Nuclear Power Plant. The Ukrainian leader said he plans to finalize an agreement with the U.S. as much as possible, potentially making progress as early as Sunday's talks, after which a comprehensive 20-point peace plan would require the participation of Russia and Europe.
After years of significant increases, tenants are finally seeing sustained declines in rent, a trend expected to continue into early 2026. According to listing data from the real estate website Realtor.com, the median rent in the 50 largest U.S. metropolitan areas was $1,693 in November, down approximately 1% year-on-year, marking the 28th consecutive month of annual decline. Data from the apartment rental platform Apartment List showed the national median rent fell to $1,367, a decrease of 1.1% compared to the previous year. Apartment List noted that November is typically a slow season for the rental market, but the rent decline from October to November this year exceeded the drop seen during the same period last year. With a continuous influx of new apartment supply into the market, rents are expected to remain low through 2026.
Oracle's stock has fallen 30% so far this quarter. With just four trading days remaining in the period, the stock is on track for its worst quarterly performance since 2001 and the dot-com bubble burst. Investors are growing increasingly skeptical about the database software supplier's ability to provide more server capacity for ChatGPT operator OpenAI. OpenAI agreed last September to a collaboration with Oracle valued at over $300 billion. Earlier this month, Oracle reported quarterly revenue and free cash flow that fell short of expectations. During the earnings call, newly appointed finance chief Doug Kehring outlined plans for capital expenditure to reach $50 billion in fiscal year 2026, a 43% increase from the plan announced in September and double the amount from the same period last year. Additionally, Oracle plans to invest $248 billion in leasing to enhance cloud computing capabilities and build data centers.
According to people familiar with the matter, U.S. retail giant Target is facing pressure from an activist investor following persistent weak sales and a nearly one-third drop in its stock price this year. The sources said that U.S. hedge fund Toms Capital Investment Management (TCIM) has built a significant stake in Target. The fund previously held a stake in Tylenol manufacturer Kenvue and last month pushed for its sale to Kimberly-Clark for $48.7 billion. The exact size of TCIM's stake in Target is currently unknown. This pressure campaign comes after Target reported in November its 12th consecutive quarter of negative or near-zero sales growth.
Prices for gold, silver, and platinum surged to new all-time highs, extending the historic year-end rally for precious metals, supported by escalating geopolitical tensions, a weaker U.S. dollar, and thin market liquidity. Spot gold rose as much as 1.6% on Friday, surpassing $4,540 per ounce. Spot silver climbed for a fifth consecutive session, jumping as much as 7.6% to break above $77 per ounce. Ongoing friction in Venezuela, where the U.S. is increasing pressure on the government of Nicolás Maduro, further boosted the safe-haven appeal of the metal. In Africa, the U.S. launched military strikes against ISIS targets within Nigeria.
Global merger and acquisition transaction volume this year surpassed $4 trillion for the first time since the 2021 boom, driven by a record number of large deals that pushed investment banking fees to the second-highest level in history. A total of 68 deals, each valued at $10 billion or more, reshaped multiple industries from media to industrials. Companies leveraged an active market environment, ample financing access, and relatively relaxed U.S. regulatory policies to pursue strategic transactions that would be difficult under other market conditions. Data from the London Stock Exchange Group shows that global M&A volume in 2025 grew nearly 50% compared to 2024, reaching $4.5 trillion. This marks the second-highest value in over 40 years of recorded statistics, surpassed only by the M&A frenzy during the pandemic in 2021.
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